Jayant Infratech puts Rs 12.5667 crore deal to vote

Jayant Infratech Limited put a proposed Rs 12.5667 crore acquisition of M/s. Jayant Infraprojects’ entire business undertaking to members at its November 10, 2026 Extraordinary General Meeting, or EGM. The company described the going-concern slump sale as a material related-party transaction and said the ordinary resolution was put to voting.

What transaction did Jayant Infratech place before members?

Jayant Infratech placed an ordinary resolution to acquire the entire business undertaking of M/s. Jayant Infraprojects, or JIP, for aggregate consideration of Rs 12.5667 crore. The proposal was considered at the EGM held at 1:00 p.m. Indian Standard Time on November 10, 2026, at Jayant Infratech’s registered office in Bilaspur, Chhattisgarh.

The acquisition was proposed on a slump-sale basis as a going concern, covering JIP’s entire business undertaking rather than a disclosed individual asset, liability or business segment. JIP is identified in the proceedings as an Association of Persons, or AOP. The filing gives the consideration as Rs 12,56,67,000, which converts to Rs 12.5667 crore.

Jayant Infratech classified the matter as special business while seeking an ordinary resolution from members. The November 10 proceedings do not provide a break-up of the Rs 12.5667 crore price across assets, liabilities, operations or other components of JIP’s undertaking.

Why was the JIP purchase presented as a related-party transaction?

Jayant Infratech described the proposed JIP acquisition as a material related-party transaction in the special-business resolution considered on November 10, 2026. The proceedings identify JIP as an AOP and identify the proposed purchase as its entire business undertaking, but do not explain the relationship that creates the related-party classification.

The company told members that the rationale, consideration and other material terms were set out in the explanatory statement attached to the EGM notice dated October 19, 2026. The supplied proceedings do not reproduce those terms, provide JIP financial information, disclose a valuation method or state how the Rs 12.5667 crore consideration was determined.

Jayant Infratech said that the register of contracts or arrangements in which directors were interested was available for inspection during the November 10 meeting. Registers covering directors, key managerial personnel and their shareholdings were also open for eligible members, although the filing does not state whether any member inspected them.

How did Jayant Infratech conduct voting on the deal?

Jayant Infratech provided remote electronic voting from 9:00 a.m. on November 7, 2026 until 5:00 p.m. on November 9, 2026, followed by ballot-paper voting at the November 10 EGM for members who had not voted remotely. Bigshare Services Private Limited was engaged to facilitate the remote e-voting process.

The voting arrangements provided one pre-meeting electronic route and one meeting-day ballot route. Members who had already used remote e-voting were not described as eligible to use the ballot paper, while members who had not voted electronically could cast a vote at the EGM.

M/s. Rohtash Agrawal & Co., practising company secretaries in Raipur, was appointed to scrutinise both voting channels. Jayant Infratech said Rohtash Kumar Agrawal attended the 35-minute meeting as the scrutiniser’s representative, but the proceedings do not disclose votes for or against the Rs 12.5667 crore resolution.

What happened at the November 10 EGM?

Jayant Infratech’s EGM commenced at 1:00 p.m. on November 10, 2026 and concluded at 1:35 p.m., with the chairman calling the meeting to order at 1:05 p.m. after confirming quorum. A total of 15 members attended, including two representatives of Hindu Undivided Families, while none attended as an authorised representative.

Those listed as present included Nilesh Jobanputra, Managing Director and Chief Financial Officer; Daksha Jobanputra, Executive Director; Aanchal Agrawal and Dr Tavinderpal Singh Arora, independent directors; and Shristi Ramani, Company Secretary and Compliance Officer. The chairman briefed members on JIP’s proposed Rs 12.5667 crore acquisition before the resolution was put to vote.

Members were given an opportunity to raise questions and seek clarification on the November 10 agenda item. Jayant Infratech said management replied to and clarified the queries, but did not disclose the number of questions, their content or whether they concerned JIP’s operations, the proposed price or the related-party designation.

What remains undisclosed after the EGM?

Jayant Infratech said it would submit consolidated voting results and the scrutiniser’s report to BSE Limited within prescribed timelines and upload them to its website. The November 10 filing reports that the ordinary resolution was put to vote, not that the Rs 12.5667 crore acquisition was approved, completed or implemented.

The supplied proceedings do not disclose a completion date, payment method, funding source or post-acquisition operating plan for the proposed transaction. They also do not state any conditions that would need to be met after a member vote on the going-concern slump sale.

Conclusion

Jayant Infratech’s November 10, 2026 EGM focused on a proposed Rs 12.5667 crore purchase of JIP’s entire business undertaking through a going-concern slump sale. The company classified the proposal as a material related-party transaction and used remote e-voting and ballot-paper voting to obtain member approval through an ordinary resolution.

The next disclosed item to watch is Jayant Infratech’s consolidated voting result and scrutiniser’s report, which it said would be filed with BSE Limited and posted on its website. Those documents are expected to show whether members approved the proposal; the EGM proceedings do not provide the result or a timetable for completion.